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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5112
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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1. compensation - are these taxable, even if

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1. compensation for accidents - are these taxable, even if received from outside the uk
2. buy to let property - if this is the only property owned by that person, is the profit on sale subject to capital gains tax.
Hello and welcome to the site. Thank you for your question.

Compensation or damages awarded for personal injury frpm accidents is non taxable.

Capital gain from sale of a buy to let property, albeit the only property owned by a person, is chargeable to CGT. You have to live in the property as your main residence to claim private residence relief against CGT.

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